13 Firms Getting Bailout Money Owe Back Taxes
In a Hill hearing underway, Rep. John Lewis (D-Ga.) revealed that 13 firms receiving government bailout money owe more than $220 million in back taxes.
Two of the firms, Lewis said, owe more than $100 million apiece.
The news comes as the public outrage over behavior of companies receiving government bailout money is high, following the revelation that bailed-out insurance giant AIG granted more than $165 million in bonuses.
"This is shameful. It is a disgrace," Lewis said. "We are going to get to the bottom of what is going on here."
Lewis did not name the firms. He said the House Ways and Means subcommittee that he chairs discovered the delinquent taxes when reviewing the performance of companies getting bailout money.
March 19, 2009; 10:56 AM ET
Categories: The Ticker | Tags: bailout
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